Kissei buys exclusive rights to Tavalisse in Japan and other Asian countries

Japanese drugmaker Kissei Pharmaceutical (TYO: 4547) has acquired exclusive rights to develop and commercialize Tavalisse (fostamatinib disodium) in all current and potential indications in Japan, China, Taiwan and the Republic of Korea, from USA-based biotech Rigel Pharmaceuticals (Nasdaq: RIGL), whose shares leapt 13% pre-market and were up3.17% at $2.93 by late morning. Kissei dipped 1.44% to 3,090 yen by close.

Tavalisse is commercially available in the USA for the treatment of thrombocytopenia in adult patients with chronic immune thrombocytopenia (ITP) who have had an insufficient response to a previous treatment.

"Kissei is a leading Japanese pharmaceutical company with significant development experience and a track record of commercial success in Asian markets. Their commitment to develop Tavalisse in ITP, and potential future indications in these territories, makes Kissei an optimal partner as we seek to expand the global market opportunity for this important new therapeutic," said Raul Rodriguez, president and chief executive of Rigel, adding: "This agreement demonstrates our approach to entering strategic markets outside of the US and emphasizes the unmet need that exists for chronic ITP, among other rare blood disorders."